Interoperability Protocol: Creating a Seamless Encryption Ecosystem

The rapid development of the encryption world has brought unprecedented prosperity, but it has also come with complexity and fragmentation issues. For new users, every step such as wallet mnemonics, obtaining Gas tokens, and cross-chain operations can become obstacles to usage. Even for experienced users, transferring assets between different chains is often a complicated process.

According to reports from data platforms, the global digital currency user base is expected to reach 562 million people in 2024, accounting for 6.8% of the global population, a 34% increase from 2023. However, to attract the next 500 million or even 1 billion users, it is necessary to enable users to perform full-chain operations more easily through the front end. StripChain, which recently completed a $10 million financing round, is one of the projects dedicated to achieving this vision.

With the development of blockchain technology, the types and number of chains are rapidly increasing. From high-performance Layer 1 public chains to Layer 2 scaling solutions, and then to Layer 3 chains specifically designed for certain applications, each chain has its unique design philosophy and technical characteristics. This forces developers and users to choose and switch between numerous chains, increasing the cost of learning and operational difficulties.

From a developer's perspective, different chains involve various types of heterogeneity, including underlying languages, account models, and contract standards. For example, there are differences among public chains in languages such as Move, Rust, and Solidity, which increases the learning cost for developers. There are also differences in account and state models across different public chains, such as the compatibility challenges between Ethereum's EOA accounts and Bitcoin's UTXO model.

On the other hand, the complexity of cross-chain interactions and high transaction costs limit the widespread application of blockchain technology. Users have to face issues such as managing multiple on-chain accounts, different Gas fee standards, and fragmented liquidity, while developers also need to deploy and maintain applications separately for each chain.

StripChain, as an interoperability protocol, aims to build an execution layer for a modular interconnected world through StripVM. It allows developers to link their applications across blockchains, thereby facilitating composability. The project is led by researchers "0xnovachrono" along with Isa Sertkaya and Narayana Pryusty, and has recently secured $10 million in funding.

Chain abstraction is a new concept to address these challenges and can also be seen as the 2.0 version of interoperability. It provides a standardized cross-chain operation framework, allowing users to perform asset transfers, smart contract calls, and other operations across different chains using the same account system and interaction interface, without having to worry about the differences of the underlying chains. For developers, chain abstraction simplifies the complexity of multi-chain deployment, reduces the development and maintenance costs of applications, and promotes the construction of a cross-chain application ecosystem.

Interoperability protocols such as StripChain enable project developers to quickly and cost-effectively integrate and apply mature scaling services, providing users with a seamless interactive experience. For B-end developers, it can reduce the cost of deploying various protocols across chains and achieve liquidity management in a full-chain environment, unifying market management while reducing security risk exposure. For C-end users, chain abstraction simplifies the relationship between users and various backend protocols into interactions between users and DApp applications, allowing users to even achieve full-chain interactive experiences directly through wallets.

StripChain is currently in the private testing phase, and is expected to launch its testnet in the coming months. Recently, it launched the first stage of personality verification, rewarding its initial community members through this phase. In late May, StripChain held meet-up events in several countries and regions, attracting many community members to participate.

Although StripChain is still in its early stages and documents like the white paper have not been made public, this is a great opportunity for users to enter the community early. As the founder of StripChain said: "Just as we don't care about the backend system of Netflix, we shouldn't care about the backend system of decentralized applications either." It is expected that with the help of projects like StripChain, the arrival of the next 500 million encryption users will become easier.